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2020 IRS Business Mileage Rate

January 6, 2020 The Internal Revenue Service (IRS) has announced the 2020 business mileage standard rate of 57.5 cents. This applies to miles driven starting January 1, 2020. The reasons behind the decrease (as in 2019 the standard mileage rate was 58 cents) are the following: National average fuel prices have dropped. This resulted however in…

What to do when you realize you should’ve kept a mileage log?

September 5, 2019 Before the tax year ends, there's a chance you have to face a few unpleasant surprises. If you have a small business, or you're an independent contractor or a freelancer most of the tax-related administration is something you have to do for yourself. Even if you have an accountant, they might not…

Which one to use for business: Company vs personal cars

Last updated on: January 6, 2022 If your company mostly deals with transporting goods or you just simply need your employees to be mobile and you need to provide some kind of means of transport, you have two options to choose from: you can either provide them with a company car or have them use…